Syzygy Plasmonics Signs Strategic Investment Agreement with Zeon Corporation

Source: www.gulfoilandgas.com 2/21/2024, Location: North America

Syzygy Plasmonics announced today that it has reached a strategic investment agreement with Zeon Corporation (Zeon) through its venture capital arm Zeon Ventures Inc. Zeon first collaborated with Syzygy on a research and development project in 2023. Based on early progress and the long-term potential of Syzygy's technology, Zeon elected to sign on as a strategic investor and aims to expand the partnership to encompass a variety of chemical applications.

Zeon is collaborating with Syzygy to develop new methods for manufacturing the materials Zeon uses in its products with the goal of accelerating the transition to a sustainable society. Zeon also plans to leverage various assets of the Zeon Group to help Syzygy achieve continued growth. This investment aims to accelerate Syzygy's commercialization efforts and continue its development of innovative alternative technologies.

"This partnership demonstrates Zeon's dedication to reducing emissions and progressing toward affordable sustainability," said Syzygy Chief Executive Officer Trevor Best. "Our all-electric, combustion-free chemical reactor cells are performing well and are ready for order. We look forward to working with Zeon to maximize impact and accelerate the adoption of this first-of-its-kind technology."

Syzygy began producing hydrogen with its Rigel™ ammonia e-cracking reactor cells late in 2023. After surpassing initial performance targets, cells are now available for order in configurations capable of producing 5 tons of hydrogen per day. Growth targets include reaching industrial-scale production of 100 tons of hydrogen per day or more by late 2026.

Syzygy's rector cells are modular and are designed to be used across multiple reactions. In addition to e-cracking ammonia for hydrogen, the cells can also reform carbon dioxide into low-carbon fuel feedstocks.


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